Tata Power gets LoI from PFC Consulting to acquire SPV in Odisha 
Corporate Watch

Tata Power gets LoI from PFC Consulting to acquire SPV in Odisha

Tata Power on Monday said it has received a letter of intent from PFC Consulting to acquire a project-specific special purpose vehicle

PTI

New Delhi: Tata Power on Monday said it has received a letter of intent from PFC Consulting to acquire a project-specific special purpose vehicle.

PFC Consulting is a wholly-owned subsidiary of Power Finance Corporation.

PSU Watch is now on Whatsapp Channels. Click here to join

In an exchange filing, Tata Power said it "has received a Letter of Intent (LoI) from PFC Consulting to acquire Paradeep Transmission Ltd, a project special purpose vehicle (SPV)."

The SPV would be developed on build, own, operate and transfer basis, to provide transmission service for 35 years from the schedule date of commercial operation, it said.

The date of commercial operation is effective 24 months from the date of SPV acquisition, Tata Power said.

The scope of project involves constructing 2 x 1,500 MVA (megavolt ampere), 190 km of 765 kV (kilovolt) double circuit transmission line from existing Angul substation to the proposed substation at Paradeep, Odisha among other project related work.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

Markets decline in initial trade amid soaring inflation, foreign fund exodus

Death toll in IOCL refinery fire rises to 2; blaze extinguished after nearly 12 hours

Coal import for blending by power sector declines 8.5% in H1 of FY25

PM to inaugurate major petroleum and natural gas projects worth Rs 4,027 crore

PTC India net profit rises 16% to Rs 234 crore in Jul-Sep